Borough Develops Auction Strategy for Alder Top Subdivision

The Borough of Wrangell is taking significant steps in response to the financial challenges posed by ongoing development efforts. On the agenda for the latest Borough Assembly meeting, scheduled for this evening, is a modification in the sale strategy for the Alder Top Subdivision—a development poised to expand housing availability by about two dozen homes at mile 5 of Zimovia Highway.

Revised Sale Strategy

Originally, nine of the lots in this borough-owned subdivision were to be sold through a lottery system. However, the assembly will now deliberate on a shift to a public auction format, slated to commence on July 1 and conclude by September 29. The rationale behind this change is the high cost of subdivision development, which has heavily drawn from public tax dollars.

Financial Recalibration via Auctions

• The shift to public auctions is intended to replenish Borough funds, as stated in the agenda packet.
• The auction plan includes options for both cash and Borough-financed sales, requiring a 20% down payment.
• Each subdivided lot boasts accessible gravel streets and utilities, with property values ranging between $2.71 and $3.31 per square foot.

School-Borough Collaboration on Facility Maintenance

An Memorandum of Understanding (MOU) is also set for approval, delineating maintenance responsibilities between the Wrangell Public School District and the City and Borough of Wrangell.

• The MOU stipulates that routine maintenance and custodial duties—budgeted under $25,000—are to be funded through the school district’s Capital Improvement Plan.
• Responsibilities for substantial repairs exceeding $25,000, along with rehabilitation and construction projects, will be shouldered by the borough.

Proposed Adjustments in Fees and Rates

Another pivotal topic for the assembly meeting is a public hearing on the proposed updates to the municipal code’s fee and rate schedule.

• The borough proposes an increase in the application fee for the purchase or lease of borough-owned land, rising from $250 to $500.
• This fee will apply per lot, underlining the financial recalibration efforts to balance public expenditure.

Stay Informed and Engaged

The Wrangell Assembly’s regular meeting is slated to commence at 7 p.m. on Tuesday, preceded by a 6 p.m. work session focusing on the Alder Top Village sale.

For those interested in tuning in, the meeting will be broadcast live on 101.7 FM or accessible online at KSTK.org. Residents wishing to voice their opinions are encouraged to sign up on the “Persons to be Heard” sheet available at City Hall.

For further information, interested parties can view the complete agenda packet for the meeting via the borough’s official website. To stay updated with similar reports, subscribe to fintechfilter.com.

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